Last 47 quarters of trend data · Consumer Cyclical · Specialty Retail
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
JD.com, Inc.'s quarterly P/E stands at 2.6x, up 100.3% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 1097.4% YoY to 10.6x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 6.77 | 2.59 | 1.97 | 1.43 | 1.34 | 1.29 | 0.79 | 1.51 | 3.38 | 1.46 | 2.05 | 2.78 | 7.39 |
| — | +100.3% | +150.2% | -5.1% | -60.4% | -11.3% | -61.6% | -45.8% | -54.3% | -56.7% | -64.7% | — | — | |
| P/S Ratio | 0.05 | 0.04 | 0.03 | 0.05 | 0.04 | 0.06 | 0.03 | 0.04 | 0.04 | 0.05 | 0.05 | 0.07 | 0.08 |
| — | -25.5% | -0.6% | +25.2% | +1.7% | +25.1% | -27.1% | -42.4% | -50.5% | -43.3% | -50.8% | -23.7% | -23.6% | |
| P/B Ratio | 0.89 | 0.17 | 0.16 | 0.20 | 0.17 | 0.20 | 0.14 | 0.15 | 0.15 | 0.16 | 1.37 | 1.75 | 0.33 |
| — | -16.6% | +17.8% | +35.2% | +9.0% | +31.3% | -89.9% | -91.5% | -52.6% | -92.6% | -49.6% | -21.7% | -88.4% | |
| P/FCF | 1.30 | — | 0.57 | — | 0.70 | — | — | — | 1.05 | 1.15 | 0.31 | — | — |
| — | — | — | — | -33.5% | — | — | — | — | -77.8% | -65.2% | — | — | |
| EV / EBITDA | 0.84 | 10.58 | 6.57 | 1.22 | 0.81 | 0.88 | 0.64 | 0.79 | 2.50 | 0.00 | 1.26 | 2.02 | 2.45 |
| — | +1097.4% | +931.9% | +54.2% | -67.4% | +69300.1% | -49.5% | -60.7% | +1.9% | -99.9% | -71.9% | -61.0% | -88.7% | |
| EV / EBIT | 1.01 | 1.92 | 1.11 | 0.95 | 0.92 | 2.90 | 0.64 | 0.81 | 2.50 | 0.00 | 1.74 | 2.84 | 4.03 |
| — | -33.8% | +74.8% | +17.1% | -63.3% | +230015.9% | -63.3% | -71.4% | -38.0% | -100.0% | -59.4% | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
JD.com, Inc.'s operating margin was -0.4% in Q3 2025, down 0.1 pp QoQ and down 5.0 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 1.3% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 13.8% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.8% | 9.5% | 15.9% | 15.9% | 9.5% | 11.0% | 15.8% | 15.1% | 14.2% | 15.6% | 8.6% | 8.5% | 8.4% |
| — | -13.8% | +0.7% | +5.0% | -33.1% | -29.4% | +83.4% | +78.1% | +70.2% | +74.4% | -35.9% | -39.1% | -37.9% | |
| Operating Margin | 3.3% | -0.4% | -0.2% | 3.5% | 2.4% | 4.6% | 3.6% | 3.0% | 0.7% | 3.8% | 2.9% | 2.6% | 1.6% |
| — | -107.6% | -106.7% | +18.1% | +269.9% | +23.2% | +25.5% | +11.9% | -59.5% | +4.8% | +104.5% | +163.2% | +1250.0% | |
| Net Margin | 3.6% | 1.8% | 1.7% | 3.6% | 2.8% | 4.5% | 4.3% | 2.7% | 1.1% | 3.2% | 2.3% | 2.6% | 1.0% |
| — | -60.8% | -60.1% | +31.9% | +156.5% | +40.6% | +89.8% | +6.4% | +7.9% | +30.9% | +39.7% | +306.5% | +154.7% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.6% | 1.8% | 2.0% | 3.5% | 3.2% | 4.0% | 4.4% | 2.4% | 1.1% | 4.7% | 16.6% | 4.0% | 1.9% |
| — | -56.3% | -53.6% | +43.5% | +182.5% | -15.1% | -73.5% | -38.8% | -41.1% | -69.9% | +47.5% | +152.7% | +114.5% | |
| ROA | 6.2% | 0.7% | 0.9% | 1.6% | 1.5% | 1.8% | 2.0% | 1.2% | 0.5% | 2.3% | 8.1% | 1.9% | 0.9% |
| — | -59.0% | -55.8% | +36.6% | +170.1% | -20.0% | -75.0% | -37.5% | -39.3% | -68.8% | +50.4% | +149.2% | +113.2% | |
| ROIC | 9.9% | -0.3% | -0.2% | 2.7% | 2.2% | 3.1% | 2.8% | 2.0% | 0.6% | 4.9% | 16.8% | 3.2% | 2.4% |
| — | -108.6% | -108.0% | +31.1% | +292.4% | -35.6% | -83.5% | -37.3% | -77.2% | -74.2% | +104.2% | -40.4% | +358.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
JD.com, Inc.'s Debt/EBITDA ratio is 93.1x, up from 81.0x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has risen for 3 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.37 | 0.34 | 0.28 | 0.29 | 0.30 | 0.30 | 0.24 | 0.23 | 0.24 | 0.25 | 0.24 | 0.24 |
| — | +24.2% | +13.3% | +16.6% | +24.1% | +25.8% | +17.9% | +0.8% | -2.7% | -7.4% | +8.3% | +16.1% | +69.9% | |
| Debt / EBITDA | 1.93 | 93.10 | 81.02 | 8.05 | 8.56 | 6.27 | 5.29 | 7.06 | 16.17 | 6.13 | 1.00 | 1.15 | 8.46 |
| — | +1385.6% | +1432.6% | +14.1% | -47.1% | +2.3% | +426.3% | +515.5% | +91.1% | +546.0% | -37.7% | -44.2% | +83.9% | |
| Current Ratio | 1.29 | 1.20 | 1.22 | 1.26 | 1.29 | 1.17 | 1.15 | 1.15 | 1.16 | 1.36 | 1.34 | 1.36 | 1.32 |
| — | +2.3% | +6.2% | +8.9% | +11.4% | -14.0% | -14.5% | -15.2% | -12.0% | +4.5% | +6.0% | +3.1% | -2.6% | |
| Quick Ratio | 0.99 | 0.88 | 0.90 | 0.92 | 0.99 | 0.90 | 0.90 | 0.88 | 0.90 | 1.12 | 1.09 | 1.07 | 1.02 |
| — | -2.0% | +0.3% | +4.9% | +10.0% | -19.6% | -17.6% | -17.6% | -11.9% | +10.5% | +13.5% | +8.0% | +3.2% | |
| Interest Coverage | 13.38 | — | -1.34 | 17.55 | 9.17 | 17.69 | 15.26 | 12.81 | — | 13.10 | 12.65 | 10.89 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Start ComparisonJD.com, Inc.'s current P/E is 6.8x. The average P/E over the last 4 quarters is 1.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
JD.com, Inc.'s current operating margin is 3.3%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking JD.com, Inc.'s business trajectory between earnings reports.